37,034 Shares in InterDigital, Inc. (IDCC) Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,034 shares of the Wireless communications provider’s stock, valued at approximately $2,863,000. Brandywine Global Investment Management LLC owned approximately 0.11% of InterDigital as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IDCC. Financial Architects Inc boosted its stake in InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 900 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in InterDigital by 74.6% in the second quarter. Riverhead Capital Management LLC now owns 1,397 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 597 shares in the last quarter. Victory Capital Management Inc. boosted its stake in InterDigital by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock valued at $125,000 after buying an additional 241 shares in the last quarter. Advisor Group Inc. boosted its stake in InterDigital by 29.5% in the second quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock valued at $181,000 after buying an additional 534 shares in the last quarter. Finally, Seven Eight Capital LP boosted its stake in InterDigital by 60.0% in the second quarter. Seven Eight Capital LP now owns 2,400 shares of the Wireless communications provider’s stock valued at $186,000 after buying an additional 900 shares in the last quarter. 70.97% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms recently weighed in on IDCC. B. Riley reaffirmed a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a research note on Tuesday, June 13th. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. InterDigital has a consensus rating of “Hold” and an average price target of $87.75.

InterDigital, Inc. (NASDAQ:IDCC) opened at 74.20 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of 8.09 and a beta of 0.93. InterDigital, Inc. has a 52-week low of $67.55 and a 52-week high of $102.30. The firm has a 50-day moving average price of $71.83 and a 200 day moving average price of $78.79.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The firm had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, analysts predict that InterDigital, Inc. will post $3.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be issued a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 10th. InterDigital’s dividend payout ratio is presently 13.00%.

InterDigital announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 14th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the Wireless communications provider to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,319 shares in the company, valued at approximately $5,948,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James J. Nolan sold 2,294 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the transaction, the executive vice president now owns 54,042 shares of the company’s stock, valued at $3,853,194.60. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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